Editor’s Note
This article provides a concise overview of recent movements in the Australian dollar, attributing its volatility primarily to fluctuations in the precious metals market.
The Australian dollar/US dollar saw selling pressure dominate from the New York afternoon into the Tokyo morning, driven by a decline in the precious metals market, particularly silver. It fell from around $0.6970 in the New York afternoon to $0.6897 in the Tokyo morning. Subsequently, as precious metal markets rebounded, with the heavily sold silver spot price turning positive, the AUD/USD recovered to the $0.6940 level.
The AUD/JPY also started lower from around ¥109.50 in the New York afternoon, opening the Tokyo morning around ¥108.90. The weakness in the Australian dollar intensified, hitting a low of ¥108.05. It then rebounded to around ¥108.90.
The NZD/USD was also pressured by selling of resource-linked currencies. Starting from around $0.5990 in the New York afternoon, it fell to around $0.5950, with the decline strengthening to $0.5928. It later rebounded beyond the morning’s levels to the $0.5960 range.
The NZD/JPY followed a similar pattern. During the morning’s NZD weakness phase, it hit a low of ¥92.86. It subsequently rebounded to above the mid-¥93 range.
Australia
02/03 09:30 Building Approvals (Dec) Result: -14.9% Forecast: -6.3% Previous: 15.2% (MoM)
02/03 12:30 Central Bank Policy Rate (Feb) Result: 3.85% Forecast: 3.85% Previous: 3.6%
02/05 09:30 Trade Balance (Dec) Result: 3.373B AUD Forecast: 3.45B AUD Previous: 2.936B AUD
02/10 08:30 Westpac Consumer Confidence Index (Feb) Previous: -1.7% (MoM)
02/10 09:30 NAB Business Conditions (Jan)
New Zealand
02/03 06:45 Building Consents (Dec) Result: -4.6% Previous: 2.8% (MoM)
02/04 06:45 Employment Statistics (Q4 2025) Result: 5.4% Forecast: 5.3% Previous: 5.3% (Unemployment Rate)
02/04 06:45 Employment Statistics (Q4 2025) Result: 0.5% Forecast: 0.3% Previous: 0.0% (Change in Employment (QoQ))
02/04 06:45 Employment Statistics (Q4 2025) Result: 0.2% Forecast: -0.1% Previous: -0.6% (Change in Employment (YoY))
02/13 11:00 2-Year Inflation Expectations (Q1 2026) Previous: 2.28%
Author: MINKABUPRESS Yamaoka